Johnson Controls Acquires Majority Position in Joint Venture TPV Johnson Controls in Slovenia

The acquisition of these additional shares gives Johnson Controls a 74.9 percent ownership stake, making it the majority shareholder in the joint venture.

The joint venture is between Johnson Controls and the TPV Group, and produces complete seating systems for the Renault assembly plant in Novo Mesto. It was established in 1998.

"The Eastern European automotive market is showing dynamic growth, and we see potential in this region," said Roch Thaller, vice president and general manager Renault customer business unit, Johnson Controls Automotive Experience. "We made a strategic decision to acquire the majority position in our joint venture with the TPV Group in order to further consolidate our presence in the Eastern European market."